Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015, and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019, and 20200528-32 dated 28 May 2020, 20201102-43 dated Nov 02, 2020, and 20210825-62 dated Aug 25,2021 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that JAI CORP LIMITED (“The Company”) has announced an Offer to Buyback up to to 29,44,415 (Twenty Nine Lakhs Forty Four Thousand Four Hundred Fifteen) fully paid-up Equity Shares of face value of Re.1/- (Re. One Only) each (“Equity Shares”), representing 1.65% of the total equity shares in the total issued and paid-up equity share capital of the company, on a proportionate basis, from the eligible shareholders holding equity shares as on September 10, 2024 (The “Record Date”), by way of a tender offer, for cash at a price of Rs. 400/- (Rupees Four Hundred Only) per equity share for an aggregate amount not exceeding Rs. 1,17,77,66,000 /- (Rupees One Hundred Seventeen Crores Seventy Seven Lakhs Sixty Six Thousand Only) (“buy-back size”) excluding transaction cost (“buy-back”). The buy-back size represents 9.94% and 9.72% of the aggregate of the fully paid-up equity share capital and free reserves (including securities premium account) as per the latest audited standalone and consolidated financial statements of the company for the financial year ended March 31, 2024 respectively. from Friday, September 13, 2024 to Friday, September 20, 2024 (Excluding September 16, 2024, due to SEBI holiday).
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Mangesh Tayde
Deputy General Manager
Listing Business Relationship
September 12, 2024 |